You Earn It, You Keep It Act | Social Security Tax Reform Explained

Thank you for joining us for this important Social Security update. Congress is now considering a major bill
that could permanently end federal taxes on your Social Security benefits, helping you keep more of your
hard-earned retirement income. This proposal could mean real savings for millions of retirees across the country.
Stay with us as we explain what this new legislation could mean for your finances and how it compares to past tax relief
efforts. Under the new you earn it, you keep it act currently before Congress. Federal taxes on Social Security benefits would
be permanently eliminated for all recipients, including those receiving retirement, disability, and survivor
benefits with no income limits or phase outs. providing immediate and lasting relief compared to the current system
where up to 85% of benefits can be taxed if your combined income exceeds $34,000 as a single filer or $44,000
as a married couple filing jointly. This proposal stands in sharp contrast to the temporary tax deduction created by the
One Big Beautiful Bill Act, which only applies from 2025 to 2028 and is limited
to $6,000 for individuals 65 and older with incomes below $75,000, phasing out for higher earners and
offering no permanent solution. The new legislation also addresses Social
Security’s long-term funding by applying payroll taxes to wages above $250,000 starting in 2025,
closing a gap that currently allows high income earners to avoid payroll taxes on earnings above $176,100.
According to projections from the Social Security Administration’s chief actuary, these changes would extend the program’s
ability to pay full benefits from the current estimate of 2034 all the way to 2058, helping secure payments for both
current and future retirees, as well as those on disability or survivor benefits. While SSI recipients would not
be directly affected since their benefits are not taxed federally,
leading senior groups such as the Senior Citizens League and Social Security
Works have endorsed the bill, emphasizing its fairness and the increased financial security it would
bring to millions of older Americans, especially those living on fixed incomes who have seen tax thresholds remain
unchanged for decades despite rising inflation. As Congress debates this sweeping reform, seniors and their
families should pay close attention to how these proposals could impact their after tax income and the long-term
stability of Social Security benefits. With the You Earn It, You Keep It Act aiming to permanently eliminate federal
taxes on up to 85% of Social Security benefits for all recipients. Now is the time to review your income situation and
consider how these changes could affect your after tax retirement income. We recommend monitoring congressional
progress closely and consulting a financial adviser to prepare for possible updates. For more information,
visit socialsecurityalerts.news. Thank you for watching where we are dedicated to helping you maximize your
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